ICICI Bank loan fraud: CBI files charge sheet against Kochhars, Dhoot

The CBI has filed a rate sheet towards former MD and CEO of ICICI Bank Chanda Kochhar, her husband Deepak Kochhar and Videocon Group founder Venugopal Dhoot in a Rs 3,250 crore mortgage fraud case, officers stated on Saturday.

The enterprise has filed the rate sheet beneathneath sections 120-B (crook conspiracy) and 409 (crook breach of trust) of the Indian Penal Code (IPC) and provisions of the Prevention of Corruption Act, amongst others, they stated. The Central Bureau of Investigation (CBI) has named 9 entities, together with bsinesses and individuals, in step with the officers.

The CBI has moved to report its very last document earlier than a unique courtroom docket in Mumbai with out the required requirement of sanction to prosecute Chanda Kochhar from ICICI Bank, the officers stated. A letter were despatched to the financial institution in search of the sanction however its reaction is awaited, they stated.

Generally, the unique courtroom docket waits for the sanction earlier than intending with taking cognisance of the rate sheet and in the end starting up the trial, if warranted.

The unique CBI courtroom docket is but to take cognisance of the rate sheet, the officers stated. In the case of denial of sanction to prosecute, the provisions of the Prevention of Corruption Act will now no longer apply, they stated. The enterprise arrested the Kochhars and Dhoot in December remaining year.

Opposing the CBI`s plea for remand, senior advise Amit Desai, performing for the Kochhars, had introduced to the courtroom docket`s be aware a letter ICICI Bank wrote to the CBI in July 2021 mentioning that it incurred no wrongful loss in any of the transactions beneathneath question. The Bombay High Court had granted the couple bail on January 9, underlining that the CBI`s flow to arrest them turned into "casual, mechanical and perfunctory and in reality with out software of mind”.

The HC had mentioned that withinside the gift case, the grounds of arrest are simply said as non-cooperation and now no longer giving complete and accurate disclosure.”The motive given withinside the arrest memos to arrest the petitioners, having regard to the statistics as said aforesaid, seems to us, to be casual, mechanical and perfunctory, in reality with out software of mind,” the courtroom docket had observed. The bench held the arrest of the Kochhars turned into in violation of Section 41A of the Code of Criminal Procedure (CrPC), which mandates sending be aware for look earlier than the police officer concerned. The CBI`s FIR names the Kochhars and Dhoot along side Nupower Renewables (NRL) controlled through Deepak Kochhar, Supreme Energy, Videocon International Electronics Limited and Videocon Industries Limited as accused.

The enterprise has alleged that ICICI Bank sanctioned credit score centers to the song of Rs 3,250 crore to the businesses of the Videocon Group promoted through Dhoot in violation of the Banking Regulation Act, RBI guidelines, and the credit score coverage of the financial institution. It additionally alleged that as part of a quid seasoned quo, Dhoot made an funding of Rs sixty four crore in Nupower Renewables via Supreme Energy Private Limited (SEPL) and transferred SEPL to Pinnacle Energy Trust controlled through Deepak Kochhar via a circuitous direction among 2010 and 2012.

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